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A multigenerational farm's assets differ from those of a typical farm primarily in scale, complexity and legacy considerations. These differences need more comprehensive and nuanced estate planning to ensure the farm's continuity and legacy. Multigenerational farms...
Planning for the future is essential, especially for families with children who have special needs. Guardianship provisions play a crucial role in ensuring that these children receive the care and support they require if their parents or current guardians can no...
Estate planning can seem daunting, especially when you have multiple assets to consider. Understanding the basics of estate planning in Indiana is essential to creating a comprehensive plan. Understanding estate planning Estate planning involves preparing for the...
In Indiana, minimizing the impact of creditors on an estate is an important aspect of estate planning. By taking certain steps, you can protect your assets. You can also ensure that more of your estate goes to your heirs. Create a living trust A living trust is a...
Estate and trust administration plays an important role in managing and distributing assets after someone passes away. Many individuals approach estate planning with various misconceptions, which can lead to complications. Understanding the truth about several common...
Owning a farm means more than just running a business. It is also part of the legacy you will eventually pass on to your loved ones. When it comes to securing the future of your farm, utilizing a trust can offer numerous benefits. It is important to understand how...
As a farmer, your land is more than your livelihood. Farm properties form the foundation of your legacy. Protecting your farm to pass down to future generations requires careful estate planning. There are 4 key things to protect when estate planning for your farm. 1....
Guardianship and power of attorney are legal terms often used interchangeably. However, they have distinct differences in their roles and responsibilities. Guardianship Guardianship is a legal arrangement where the courts appoint a person, known as the guardian, to...
SmartAsset noted that Indiana does not have an estate tax, which makes it one of the 38 states that do not. However, estate tax is not the only taxation concern when creating an estate plan. The federal government imposes taxes on estates exceeding a certain...
Probate is the legal process through which people distribute a deceased person's assets among heirs. It is an important procedure that involves multiple steps. This process ensures a fair distribution of the dead person's estate, and learning about the steps can help...
